Entravision Communications Corporation Divest Its Chicago Radio Stations.

Entravision Communications Corporation announced that it has entered into two definitive agreements to divest its three radio stations serving Chicago for $29 million in cash. Newsweb Corporation has agreed to acquire WRZA-FM and WNDZ-AM for $24 million and NextMedia Group has agreed to acquire WZCH-FM for $5 million. The divestitures, which are subject to regulatory approvals, are expected to close in the second quarter of 2004.

Walter Ulloa, Chairman and Chief Executive Officer of Entravision, commented, “Today’s announcement is in line with our strategic goal of divesting non-core assets to focus on strengthening existing clusters as well as expanding into emerging markets. Proceeds from this transaction will be used to reduce debt.”